LABOUR leader Ed Miliband overcame a five-minute broadcast blackout to deliver his keynote speech at the Labour Party conference in Liverpool, promising a new bargain for Britain.

LABOUR leader Ed Miliband overcame a five-minute broadcast blackout to deliver his keynote speech at the Labour Party conference in Liverpool, promising a new bargain for Britain.

The TV signal from the Echo Arena went down after Mr Miliband had been speaking for 40 minutes, although the conference hall was unaffected by the problem.

Mr Miliband said he wanted to become Prime Minister so he can “write a new chapter in our country’s history”.

Launching a scathing attack on “unjustified rewards” at the top of companies, asset-stripping “predators” in business and bankers who profited even as their mistakes caused economic meltdown, Mr Miliband said that a Labour government would use tax breaks, regulation and contracts to reward firms which contribute to their community.

And he said he was determined to reform the welfare system to ensure that it pays to work, to end “cosy cartels” which set top pay, break up the “rigged market” which allows energy companies to charge high prices and rebalance Britain’s economy away from the reliance on financial services and towards production and manufacturing.

Against the backdrop of opinion polls suggesting voters do not see him as a potential prime minister, Mr Miliband sought to shake off the legacy of the last two Labour leaders to hold power, telling the conference: “I’m not Tony Blair. I’m not Gordon Brown either... I’m my own man and I’m going to do things my own way.”

And he declared that he was ready to take risks to break away from the “something for nothing” culture which has taken root in Britain over the past three decades and created a “quiet crisis” where those who do the right thing no longer believe they will be rewarded for it.

After the banking crash, MPs’ expenses scandal, phone-hacking and the summer riots in England’s cities, it was now a once-in-a-generation “moment when we need to change the way we do things”, he said.

The “fill-your-boots” approach of bankers and high finance, the “something for nothing” promises of celebrity culture and the “take-what-you-can” mentality of inner-city gangs do not represent the true values of the British people, said Mr Miliband.

“It will be a tough fight to change Britain,” he said. “But I’m up for the fight: The fight for a new bargain.

“A new bargain in our economy so reward is linked to effort; A new bargain based on your values so we can pay our way in the world; A new bargain to ensure responsibility from top to bottom.

“And a new bargain to break open the closed circles, and break up vested interests, that hold our country back.

“I aspire to be your Prime Minister not for more of the same, but to write a new chapter in our country’s history.

“The promise of Britain lies in its people. The tragedy of Britain is that it is not being met. My mission, our mission, is to fulfil the promise of each so we fulfil the promise of Britain.”

Mr Miliband accepted that Labour had ``lost trust on the economy'' while in power and insisted he was determined to win public confidence back by showing the party would ``live within its means'' and ensure every pound is spent wisely if it returns to power.

He acknowledged he would not be able to reverse every cut being imposed by the coalition Government. And he pledged that, if the deficit was not eliminated by the time of the 2015 election, Labour would deal with it.

Mr Miliband said he was “proud” of Labour’s record in office and described Mr Blair and Mr Brown as “great men, who in their different ways, achieved great things”.

But he acknowledged that the Blair and Brown administrations did not change the fundamental economic settlement put in place by Margaret Thatcher after 1979.

“Good times did not mean we had a good economic system. We changed the fabric of our country but we did not do enough to change the values of our economy,” he said.

And he told delegates: “You believe rewards should be for hard work. But you’ve been told we have to tolerate the wealthiest taking what they can ...

“For too long you have been told that the only way our economy can succeed is if we reward not your values, but a totally different set of values.

“Trickle-down economics. The triumph of finance over industry. The victory of vested interests over the public interest.”

He contrasted RBS banker Sir Fred Goodwin, who was knighted by Mr Blair, with the former chief executive of Rolls-Royce, Sir John Rose, who he described as “a great British business leader, creating wealth and keeping jobs in this country”.

He added: “I tell you something, Fred Goodwin shouldn’t have got that salary. And I tell you something else: We shouldn’t have given Sir Fred Goodwin that knighthood either.”

Video: Steve Rotheram discusses Ed Miliband's speech & what a Labour government would do for Merseyside

Mr Miliband said: “We have allowed values which say ’take what you can, I’m in it for myself’, to create a Britain that is too unequal. The people at the top taking unjustified rewards isn’t just bad for our economy.

“It sends a message throughout our society about what values are OK and inequality reinforces privilege and opportunity for the few.”

And he added: “It’s all got to change.

“We need a new bargain. Based on Britain’s values ... built on values of hard work, something for something, the long-term.”

Taking on the coalition Government over the economy, Mr Miliband said that Chancellor George Osborne's austerity programme was ``failing'' as growth has stalled.

He accused Mr Cameron of planning to scrap the 50p income tax on high-earners while asking those on modest incomes to bear the brunt of cuts.

And he said that Mr Cameron’s “biggest betrayal” was the reorganisation of the health service which had confirmed “the oldest truth in politics: You can’t trust the Tories with the NHS”.

Mr Miliband said: “Only David Cameron could believe that you make ordinary families work harder by making them poorer and you make the rich work harder by making them richer.

“It’s wrong. It’s the wrong priority. It’s based on the wrong values. How dare they say we’re all in it together?”

Rejecting Mr Cameron’s claim to represent a new, modern politics, he said: “If you want someone who will rip the old rules so that the country works for you, don’t expect it from this Prime Minister.

“On the 50p tax rate, on the banks, on the closed circles of Britain, on welfare, on the NHS, he’s not about a new set of rules. He’s the last gasp of the old rules. The wrong values for our country and the wrong values for our time.”

By contrast, Mr Miliband described himself as “the guy who is determined to break the closed circles of Britain” and was ready to take on vested interests.

His first year as Labour leader had taught him that the most important thing was “to be true to myself, my instincts, my values, to take risks in the pursuit of that and to stand up for what is right”, he said.

Recalling his decision to become the first party leader to demand an inquiry into phone-hacking at the News of the World, he said: “I knew when I said what I did that I was breaking rule number one of British politics - Don’t mess with Rupert Murdoch.

“I did it because it was right. That’s the lesson I have learned most clearly in the last year - The lesson that you’ve got to be willing to break the consensus, not succumb to it.”

Mr Miliband repeated his pledge to cut the university tuition fee cap from £9,000 to £6,000, telling students: “I won’t let you be priced out of your future.”

And he called on universities to open their doors to children from disadvantaged backgrounds, citing research which suggests 3,000 pupils each year get good A-levels but fail to secure places in top higher education institutions.

Three-and-a-half years ahead of the probable date of the general election, Mr Miliband made few policy commitments in today's speech.

He said he would require a workers’ representative on every company’s remuneration board.

And he said councils should give priority in allocating scarce social housing to those who are responsible and contribute to society, rather than operating purely on the basis of need.

In remarks which may anger some activists, the Labour leader made clear he is ready to impose further reforms on the welfare system to ensure it pays to work.

“We have to face the truth,” said Mr Miliband. “Even after reforms of recent years, we still have a system where reward for work is not high enough, where benefits are too easy to come by for those who don’t deserve them and too low for those who do.

“So if what you want is a welfare system that works for working people then I’m prepared to take the tough decisions to make that a reality.”

And he added: “Decency, fairness, helping those who do the right thing: I believe in a benefits system with values and I believe in the value of work. Under my leadership, we will be the party which makes welfare work too.”

Mr Miliband was given a standing ovation at the conclusion of his 55-minute speech as he was joined on stage by new wife Justine - who he hailed as “the person I want to thank more than any other. For her love, her support, for her encouragement”.

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